Nucor (NYSE:NUE) Announces Earnings Results

Nucor (NYSE:NUE) issued its earnings results on Monday. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18), Zacks reports. Nucor had a return on equity of 7.80% and a net margin of 5.18%.The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion.

Nucor Stock Down 2.2%

Shares of NYSE:NUE traded down $4.04 during midday trading on Monday, hitting $177.61. 2,535,436 shares of the company’s stock were exchanged, compared to its average volume of 1,742,632. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.77 and a quick ratio of 1.51. Nucor has a 12 month low of $97.59 and a 12 month high of $183.32. The company has a market cap of $40.65 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 0.99 and a beta of 1.87. The stock has a 50 day moving average price of $163.72 and a 200-day moving average price of $149.54.

Nucor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.56 per share. This is an increase from Nucor’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Nucor’s dividend payout ratio is 31.46%.

Insider Buying and Selling

In related news, EVP John J. Hollatz sold 7,000 shares of Nucor stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $149.88, for a total transaction of $1,049,160.00. Following the transaction, the executive vice president owned 96,550 shares of the company’s stock, valued at $14,470,914. The trade was a 6.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas J. Batterbee sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total value of $330,560.00. Following the sale, the executive vice president owned 17,952 shares of the company’s stock, valued at $2,967,106.56. This trade represents a 10.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 25,995 shares of company stock worth $3,990,634 over the last 90 days. Company insiders own 0.46% of the company’s stock.

Institutional Trading of Nucor

A number of hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. grew its stake in Nucor by 83.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 4,767 shares of the basic materials company’s stock valued at $646,000 after purchasing an additional 2,175 shares during the period. Coldstream Capital Management Inc. boosted its holdings in shares of Nucor by 28.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,626 shares of the basic materials company’s stock worth $626,000 after buying an additional 1,031 shares during the last quarter. Danske Bank A S purchased a new position in shares of Nucor in the 3rd quarter worth about $24,298,000. Stance Capital LLC bought a new position in Nucor during the third quarter valued at about $25,000. Finally, Advisory Services Network LLC increased its holdings in Nucor by 46.2% during the third quarter. Advisory Services Network LLC now owns 12,521 shares of the basic materials company’s stock worth $1,696,000 after buying an additional 3,957 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on NUE. Jefferies Financial Group lifted their price target on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Wells Fargo & Company set a $176.00 target price on Nucor in a report on Thursday, December 18th. Wall Street Zen lowered shares of Nucor from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. UBS Group increased their price target on Nucor from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Citigroup upped their target price on Nucor from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $177.27.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.